Chorus Limited (ASX:CNU) held its 2026 Annual Shareholders' Meeting on 4 November 2026 in Auckland, with Chair Mark Cross reporting EBITDA of $726 million for FY26, up from $705 million in the prior year, alongside net operating cash flows of $740 million.

Key Points

  • FY26 EBITDA was $726 million, up from $705 million in FY25
  • Net operating cash flows were $740 million, up 4% on the prior year
  • Fibre connections grew 3% versus FY25, reaching 1,147 thousand connections
  • Scope 1 and 2 emissions reduced by 43% from the FY20 baseline, with electricity consumption down 7% versus FY25
  • Director Kate Jorgensen stood for re-election and Paul Reid stood for election at the meeting

FY26 Financial Results Presented at Annual Meeting

At the meeting held at the NZME iHeart Lounge, 2 Graham Street, Auckland Central, Chair Mark Cross presented Chorus' FY26 financial outcomes. EBITDA was reported at $726 million, compared with $705 million in FY25. Net operating cash flows reached $740 million, representing a 4% increase on the prior year figure of $709 million. Net profit was $37 million for FY26, compared with $4 million in FY25. Fibre connections totalled 1,147 thousand, up from 1,115 thousand in FY25, representing a 3% increase. Chief Executive Mark Aue also addressed the meeting on operational and market matters.

Sustainability and Workforce Metrics Disclosed

The Chair disclosed a range of non-financial performance metrics for the year. Scope 1 and 2 emissions were reduced by 43% from the company's FY20 baseline. Electricity consumption decreased by 7% compared with FY25, despite data traffic growing by 9% year on year. The company's Lost Time Injury Frequency Rate was reported at 1.23, compared with an industry benchmark of 9.25. Employee engagement, measured by an eNPS score, was 56, placing the company within the top 10% of the technology industry benchmark. The company reported more than 3,055 digital equity connections in place at the end of FY26.

Board Composition and Strategic Focus Areas

The meeting was attended by directors Sue Bailey, Neal Barclay, Miriam Dean, Will Irving, Kate Jorgensen, and Paul Reid, alongside Chair Mark Cross. Representatives from auditors KPMG and legal provider Chapman Tripp were also present. The Chair outlined four Board focus areas: fibre leadership, growth and customer value, financial discipline, and people and capability. Stated targets under fibre leadership included achieving 80% fibre uptake by 2030 and managing the exit from copper. The meeting was conducted as a hybrid event, with an in-person and online attendance option available via Computershare's online meeting platform.